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Definition of a complaint

Any oral or written expression of dissatisfaction, whether justified or not, from, or on behalf of, a person about the provision of, or failure to provide, a financial service, which:

  • Alleges that the complainant has suffered (or may suffer) financial loss, material distress or material inconvenience and 
  • Relates to an activity of that respondent, or of any other respondent with whom that respondent has some connection in marketing or providing financial services or products, which comes under the jurisdiction of the Financial Ombudsman Service (FOS) in the UK

Definition of a complainant

The applicable definition of 'eligible complainant' is contained in the FCA Handbook. It is important that managing agents refer to that definition but in summary, 'eligible complainants' are:

  • A consumer
  • A micro-enterprise which employs fewer than 10 persons and has a turnover or annual balance sheet that does not exceed €2 million
  • A charity which has an annual income of less than £6.5 million at the time the complaint is made
  • A trustee of a trust which has a net asset value of less than £5 million at the time the complaint is made
  • A person acting for purposes which are outside that person’s trade, business or profession
  • A small business which is not a micro-enterprise and has an annual turnover of less than £6.5 million and employs fewer than 50 persons; or has a balance sheet total of less than £5 million
  • A guarantor


This is a two stage process. Lloyd’s expects that an acknowledgement is provided to the complainant within 5 business days where possible.

Stage One

The managing agent or their representative has 14 calendar days from receipt of the complaint to issue their stage one response.

Stage Two

If the complainant remains dissatisfied they can contact Lloyd’s Complaints team. The complaints team will aim to issue a final response within 8 weeks of receipt of the complaint. If the complaint remains unresolved, the complainant may refer their complaint directly to the Financial Ombudsman Service in the UK.

EDR scheme and eligibility

FOS UK (Financial Ombudsman Service)

Exchange Tower

London E14 9SR


Lloyd’s Complaint Notice

The complaints notice for Singapore, LSW1893B, is available on LMA Wordings (